There’s no denying that communication is the backbone of the ARM industry. But with the recent CFPB proposal and the FCC ruling on robocalls, the communication barrier is more present than ever. While many collectors are quick to assume that these rulings are the end of the recent regulation madness, it may actually signify the beginning of something bigger for how collectors communicate with consumers.
Anticipating a Greater Shift
The CFPB and FCC rulings are a clear signal for collectors to leverage a more customer-centric approach. This makes sense, as consumers are demanding a higher level of convenience and personalization across all industries. But with the push for a customer-centric approach at the forefront of everyone’s mind, it can be easy to lose sight of the bigger picture – that communication is becoming less voice-based, and increasingly technology-based.
Looking at consumers aged 18-35, how many of them do you think prefer to communicate with collectors via a traditional, unprompted phone call? Not many. Hence the limitation on the number of times a debt collector may contact a consumer, defined in the updated Fair Debt Collection Practices Act. Rather than a manual phone call, the CFPB recognized that modern technologies are a more effective and efficient means of communication between debtor and consumer. In fact, they even hinted at the future of the ARM industry being embedded in the capabilities of greater technological advances.
Getting Ahead of the Shift
As a leader in the world of collections, how do you take this anticipated shift toward technology-based communication and create a strategy that would optimize the potential it has for creating strong consumer relationships? Enter DirectDrop Voicemail.
DirectDrop Voicemail helps collectors overcome communication barriers and leverage the power of technology by bridging the three-way gap between consumer demands, new regulations, and the nature of the industry. By dropping a voicemail into the consumer’s mobile voice mailbox without ever calling the phone, you are able to bypass call blocking software, consumers are able to call back on their own terms, rather than be interrupted at an inconvenient time, and you achieve better results for all parties.
DirectDrop Voicemail works well with every call center business model – from first-party collections to online lenders. This technology allows you to easily contact consumers at scale.
Want to know more about how DirectDrop Voicemail can help you get ahead of the shifts in communication? Reach out to us here.